Ethereum Analyst Targets $3,000 as Price Action Signals Momentum
Ethereum and the crypto market saw a small but notable surge yesterday, raising hopes of a trend reversal following weeks of downside. Investors await a breakout as global economic struggles and US-China tensions fuel market instability.
Ethereum is holding above key support levels and nearing a trend shift, so traders and investors are watching for confirmation. Volume and sentiment may signal a rally that could reshape cycle predictions.
Market players are focused on Ethereum's price structure. The recent bounce from $1,500 suggests a higher low, a possible trend-reversal setup. Bulls could gain momentum if ETH breaks $1,700 and clears the falling trendline.
Runefelt forecasted Ethereum would rise quickly. If short-term resistance breaks, his next target is $3,000.
With growing DeFi and real-world asset adoption, Ethereum remains resilient despite global risks. If a breakout happens and sentiment improves, ETH could lead a crypto rebound.
Price Hits Key Resistance as Bulls Struggle for Control
Ethereum trades around $1,630 after another failed break above the $1,700–$1,800 resistance. This range has capped gains and held ETH in a decline. Bulls must reclaim last week's $1,691 high to suggest a structural shift and rally.
A strong move above $1,700 could test $2,000, a major psychological and technical level. But macro tensions and a risk-off tone have stalled recent bullish attempts, highlighting uncertainty in crypto markets.
If Ethereum fails to rise further, a drop back toward $1,500 is likely, with deeper losses possible under heavier selling pressure. That level has been key support recently. Without a breakout, ETH may see more downside. Bulls need to flip resistance into support to prevent another leg down.
